Guest fading star Posted February 5, 2009 Share Posted February 5, 2009 Newcastle United are now factoring payments, this isn't a good sign. They will get between 90 and 95% of money owed within 24 hours depending on who we are using. This tends to suggest that we curently have cash-flow problems. Source? Link to post Share on other sites More sharing options...
ChezGiven Posted February 5, 2009 Share Posted February 5, 2009 Newcastle United are now factoring payments, this isn't a good sign. They will get between 90 and 95% of money owed within 24 hours depending on who we are using. This tends to suggest that we curently have cash-flow problems. Source? The financial problems more than likely Link to post Share on other sites More sharing options...
Guest fading star Posted February 6, 2009 Share Posted February 6, 2009 Newcastle United are now factoring payments, this isn't a good sign. They will get between 90 and 95% of money owed within 24 hours depending on who we are using. This tends to suggest that we curently have cash-flow problems. Source? The financial problems more than likely That, or the voices in Mick's head Link to post Share on other sites More sharing options...
indi Posted February 6, 2009 Share Posted February 6, 2009 Why would we have bought any players at all if things were that bad, and why didn't we sell more? Link to post Share on other sites More sharing options...
Mick Posted February 6, 2009 Share Posted February 6, 2009 Source? A bill from the football club. Link to post Share on other sites More sharing options...
Mick Posted February 6, 2009 Share Posted February 6, 2009 That, or the voices in Mick's head True but they got in through my eyes. Link to post Share on other sites More sharing options...
NE5 Posted February 6, 2009 Share Posted February 6, 2009 Newcastle United are now factoring payments, this isn't a good sign. They will get between 90 and 95% of money owed within 24 hours depending on who we are using. This tends to suggest that we curently have cash-flow problems. Can we have that in English for those of us who aren't accountants? I doubt that he is either mackems.gif Link to post Share on other sites More sharing options...
BottledDog Posted February 6, 2009 Share Posted February 6, 2009 I was thinking the other day about how we stand in telling all players they have to take pay cuts. Granted they are on contracts but so are most people in 9-5 jobs and certainly I am hearing the odd stories amongst people in my line of work where people are being asked to take pay cuts. Can the club do that ? I'm sure that would be breaking the contract and if we did that the players could become free agents, at a guess. If things are as bad as they seem, and we havent a bean to our name, then drastic measures are called for. Like stopping all this boycott palaver that people think is helping the club by hurting Ashley. No, its' hurting the club. /Sorry Robster, not aimed at you, just tired ranty bollocks. Link to post Share on other sites More sharing options...
Zero Posted February 6, 2009 Share Posted February 6, 2009 I am not sure but probably that's related to the Given or N'Zogbia's deal? Both fees seems to be paying in instalments. Just sold two players doesn't mean we are free from short-term liquidity problem---though I do wonder why we need to generate cash so desperately. Bank facility close to being downgraded? Link to post Share on other sites More sharing options...
NE5 Posted February 6, 2009 Share Posted February 6, 2009 I am not sure but probably that's related to the Given or N'Zogbia's deal? Both fees seems to be paying in instalments. Just sold two players doesn't mean we are free from short-term liquidity problem---though I do wonder why we need to generate cash so desperately. Bank facility close to being downgraded? because he thinks every player has their price and doesn't have any ambition ? Link to post Share on other sites More sharing options...
cp40 Posted February 6, 2009 Share Posted February 6, 2009 I was thinking the other day about how we stand in telling all players they have to take pay cuts. Granted they are on contracts but so are most people in 9-5 jobs and certainly I am hearing the odd stories amongst people in my line of work where people are being asked to take pay cuts. Can the club do that ? I'm sure that would be breaking the contract and if we did that the players could become free agents, at a guess. If things are as bad as they seem, and we havent a bean to our name, then drastic measures are called for. Like stopping all this boycott palaver that people think is helping the club by hurting Ashley. No, its' hurting the club. /Sorry Robster, not aimed at you, just tried randy bollocks. fyp. Link to post Share on other sites More sharing options...
BottledDog Posted February 6, 2009 Share Posted February 6, 2009 I was thinking the other day about how we stand in telling all players they have to take pay cuts. Granted they are on contracts but so are most people in 9-5 jobs and certainly I am hearing the odd stories amongst people in my line of work where people are being asked to take pay cuts. Can the club do that ? I'm sure that would be breaking the contract and if we did that the players could become free agents, at a guess. If things are as bad as they seem, and we havent a bean to our name, then drastic measures are called for. Like stopping all this boycott palaver that people think is helping the club by hurting Ashley. No, its' hurting the club. /Sorry Robster, not aimed at you, just tried randy bollocks. fyp. Fair enough, everything once as they say. http://mcb.berkeley.edu/labs/heald/Hall%20of%20Fame/images/delicious_JPG.jpg Delicious! Link to post Share on other sites More sharing options...
TRon Posted February 6, 2009 Share Posted February 6, 2009 I was thinking the other day about how we stand in telling all players they have to take pay cuts. Granted they are on contracts but so are most people in 9-5 jobs and certainly I am hearing the odd stories amongst people in my line of work where people are being asked to take pay cuts. Can the club do that ? I'm sure that would be breaking the contract and if we did that the players could become free agents, at a guess. If things are as bad as they seem, and we havent a bean to our name, then drastic measures are called for. Like stopping all this boycott palaver that people think is helping the club by hurting Ashley. No, its' hurting the club. /Sorry Robster, not aimed at you, just tried randy bollocks. fyp. Fair enough, everything once as they say. http://mcb.berkeley.edu/labs/heald/Hall%20of%20Fame/images/delicious_JPG.jpg Delicious! she's giving good head Link to post Share on other sites More sharing options...
Robster Posted February 6, 2009 Share Posted February 6, 2009 /Sorry Robster, not aimed at you, just tired ranty bollocks. No problem mate Link to post Share on other sites More sharing options...
Guest toonlass Posted February 8, 2009 Share Posted February 8, 2009 Its fair enough appreciating the Porsches, the 20 bed mansions and the holidays to the Seychelles bought on tick after you have had them. But to continue to want them despite knowing you cannot afford them is stupid. NE5, you can live in your millionaire's lifestyle mode, appreciate it all you want, but when you are broke you need to trim your cloth accordingly. No-one is disputing the good old days of the 1990's and early 2000's being fabulous. But if you do not have the money to carry on buying Moet you have to start buying Lambrusco. We need to ourselves sorted out financially. Freddy and Sir John Hall bought the mansions, the Porsches and the fabulous holidays on tick, and have left Newcastle United in the shit. No-one else would have come in, looked at the books and bought this club, because others did before Ashley and walked away, probably pissing themselves laughing. Ashley was stupid enough not to complete due dilligence, but he has put money into the club to stop it going to the wall. I want to know from someone who knows what they are talking about, Quayside or someone. How bad a situation financially are we in? Are we able to pay day to day running costs? Will the sales of Shay and N'Zogbia keep us going for a while? Do you think Mike Ashley will need someone else to come in and help out financially? Link to post Share on other sites More sharing options...
Teasy Posted February 8, 2009 Share Posted February 8, 2009 We're not in that drastic a situation. We spent £6 million more then we brought back in. £8 million was spent on interest payments that now aren't necessary and £5 million was paid to Allardyce when we sacked him. We also have a lot of money owed to us from transfers. I'd be very surprised if next years accounts don't have us well into profit before amortisation. Our real problem is the wage bill, we still make much more money then the massive majority of Premiership clubs, but our wage bill is insane. Its not even about not being able to afford porches and mansions, we're struggling along every year trying to afford small countries. Link to post Share on other sites More sharing options...
Guest sicko2ndbest Posted February 8, 2009 Share Posted February 8, 2009 We're not in that drastic a situation. We spent £6 million more then we brought back in. £8 million was spent on interest payments that now aren't necessary and £5 million was paid to Allardyce when we sacked him. We also have a lot of money owed to us from transfers. I'd be very surprised if next years accounts don't have us well into profit before amortisation. Our real problem is the wage bill, we still make much more money then the massive majority of Premiership clubs, but our wage bill is insane. Its not even about not being able to afford porches and mansions, we're struggling along every year trying to afford small countries. Owen Geremi Viduka should sort that problem out! Link to post Share on other sites More sharing options...
Zero Posted February 8, 2009 Share Posted February 8, 2009 I think Macbeth should answer that question as he has been doing yearly analysis for the previous few years. Personally I think the club won't have short-term financial problem as Ashley has clear the debt. However as just like what Teasy said, the ridiculous wage bill (Thanks Fred) has hold us back that, to be honest, we are not in a position to make 10m+ spending each season anymore unless we sold all those money-wasting shitty cunts (e.g. Smith). Thus unless we do a Abramovich (Impossible due to the Tsunami, face it) we gotta breakeven our transfer. What we have done so far this season is to replace those rubbish by cheap-and-quality players at minimum cost (Bassong, Jonas, Loven for example). Colo is the consolidation signing and that's why we paid 10m for him, while Nolan is an emergency purchase. Ashley's financial management (simply in financial terms, ok?) has been spot on and our position has greatly improved IF WE DIDN'T GET RELEGATED. The point is, if we can stay in EPL, sold those cunts this summer (for me it also includes NOT renewing Owen's contract), and bring in a capable manager, we will be in a much better position next season and likely to back to top 8 the season after. Howevber the downside is that we has to take a gamble this season, though originally it shouldn't be that risky (Thanks Ashley). Link to post Share on other sites More sharing options...
Mick Posted February 8, 2009 Share Posted February 8, 2009 Its fair enough appreciating the Porsches, the 20 bed mansions and the holidays to the Seychelles bought on tick after you have had them. But to continue to want them despite knowing you cannot afford them is stupid. NE5, you can live in your millionaire's lifestyle mode, appreciate it all you want, but when you are broke you need to trim your cloth accordingly. No-one is disputing the good old days of the 1990's and early 2000's being fabulous. But if you do not have the money to carry on buying Moet you have to start buying Lambrusco. We need to ourselves sorted out financially. Freddy and Sir John Hall bought the mansions, the Porsches and the fabulous holidays on tick, and have left Newcastle United in the s***. No-one else would have come in, looked at the books and bought this club, because others did before Ashley and walked away, probably pissing themselves laughing. Ashley was stupid enough not to complete due dilligence, but he has put money into the club to stop it going to the wall. I want to know from someone who knows what they are talking about, Quayside or someone. How bad a situation financially are we in? Are we able to pay day to day running costs? Will the sales of Shay and N'Zogbia keep us going for a while? Do you think Mike Ashley will need someone else to come in and help out financially? You want to know how bad a situation we are in financially. If the £6 million fee is correct for Given and if it's true we're being paid over 4 years then the first payment covers just over a weeks wages at the club. If the fee for N'Zogbia is correct and we're also getting that money over 4 years and it's going on wages then all of the income from the last window will be gone in less than another two weeks. Link to post Share on other sites More sharing options...
Dr Venkman Posted February 8, 2009 Share Posted February 8, 2009 time for a serious, forward looking managerial appointment to get the ticket sales back up in the new season Link to post Share on other sites More sharing options...
Mick Posted February 8, 2009 Share Posted February 8, 2009 time for a serious, forward looking managerial appointment to get the ticket sales back up in the new season I agree but the club also needs to come clean about our current situation and how we're going to get out of it. I don't need to see star names but I'd like to know where we're going and how we're going to do it, if we really are in the shit then how do they plan to get us out of it. Link to post Share on other sites More sharing options...
Robster Posted February 8, 2009 Share Posted February 8, 2009 I agree but the club also needs to come clean about our current situation and how we're going to get out of it. I don't need to see star names but I'd like to know where we're going and how we're going to do it, if we really are in the shit then how do they plan to get us out of it. Absolutely spot on that Mick Link to post Share on other sites More sharing options...
Teasy Posted February 8, 2009 Share Posted February 8, 2009 Its fair enough appreciating the Porsches, the 20 bed mansions and the holidays to the Seychelles bought on tick after you have had them. But to continue to want them despite knowing you cannot afford them is stupid. NE5, you can live in your millionaire's lifestyle mode, appreciate it all you want, but when you are broke you need to trim your cloth accordingly. No-one is disputing the good old days of the 1990's and early 2000's being fabulous. But if you do not have the money to carry on buying Moet you have to start buying Lambrusco. We need to ourselves sorted out financially. Freddy and Sir John Hall bought the mansions, the Porsches and the fabulous holidays on tick, and have left Newcastle United in the s***. No-one else would have come in, looked at the books and bought this club, because others did before Ashley and walked away, probably pissing themselves laughing. Ashley was stupid enough not to complete due dilligence, but he has put money into the club to stop it going to the wall. I want to know from someone who knows what they are talking about, Quayside or someone. How bad a situation financially are we in? Are we able to pay day to day running costs? Will the sales of Shay and N'Zogbia keep us going for a while? Do you think Mike Ashley will need someone else to come in and help out financially? You want to know how bad a situation we are in financially. If the £6 million fee is correct for Given and if it's true we're being paid over 4 years then the first payment covers just over a weeks wages at the club. If the fee for N'Zogbia is correct and we're also getting that money over 4 years and it's going on wages then all of the income from the last window will be gone in less than another two weeks. If we did need to sell players to cover our wage bill the entire squad would have to be sold and all fee's demanded up front The wage bill really is disgusting! Luckily revenue is still more then enough to cover wages and the removal of Owen, Viduka and Geremi will help quite a lot, saving us around £12 million a year. Link to post Share on other sites More sharing options...
Mick Posted February 8, 2009 Share Posted February 8, 2009 If we did need to sell players to cover our wage bill the entire squad would have to be sold and all fee's demanded up front The wage bill really is disgusting! Luckily revenue is still more then enough to cover wages and the removal of Owen, Viduka and Geremi will help quite a lot, saving us around £12 million a year. We're factoring our creditors, we're getting in cash within 24 hours instead of the normal 30 to 60 days, why do you think we're doing that? Link to post Share on other sites More sharing options...
Robster Posted February 8, 2009 Share Posted February 8, 2009 We're factoring our creditors, we're getting in cash within 24 hours instead of the normal 30 to 60 days, why do you think we're doing that? Does Factoring necessarily mean immediate payment? I am sure we get Invoices from suppliers at work that are payable to factoring companies but they are still due in the normal 30 days credit period Link to post Share on other sites More sharing options...
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